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Revenue growth is the top metric to measure the success of innovation

KPMG Study - Global Technology Innovation Report 2018

In addition to Silicon Valley, the leading technology innovation hub over the next four years will be Shanghai. Tesla and SpaceX CEO Elon Musk was named the top global technology visionary. Google was again cited as the leading visionary company in driving tech innovation. The U.S. were named as the most promising market for tech breakthroughs, China remained second. These findings have emerged from the KPMG Global Technology Innovation Report 2018.

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In the list of cities with the greatest potential to become the world's center of technological innovation, European cities have emerged this year, besides American and Chinese. Shanghai is followed by Tokyo, London and New York. Beijing, Singapore, Seoul, Tel Aviv, Bangalore and Berlin also reached the top 10.

“Many factors affect a city’s perception as an innovation hub, including favorable government policies and incentives, accelerators, tech parks, corporate investment, state-of-the-art infrastructure and, in all cases, at least a few highly successful and wildly popular success stories,” said Peter Laco, a new Executive Director in the Management Consulting department at KPMG in Slovakia.

Tesla and SpaceX CEO Elon Musk was named the top global technology visionary, with Google CEO Sundar Pichai second, followed by Facebook CEO Mark Zuckerberg third. Google was again cited as the leading visionary company in driving tech innovation. Apple, Microsoft, and Tesla were second, third and fourth.

Global technology industry leaders said revenue growth is the top metric to measure the success of tech innovation in their organizations, replacing patents, which fell out of the top three. Market share and return on investment were second and third.

Over 90 percent of the global poll said they would hire up to 100 employees in the next year, a sharp increase from 68 percent a year ago.

About the Report

Global Technology Innovation report captures tech innovation findings based on the views of 767 business executives globally from companies, venture capital firms, and other investors that focus on technology.